Canceling an active ATM Strategy results in a Stop-Limit Order

[BearingHH]

Hello,

when I cancel a running ATM strategy, I see the order at my brokers side (IB) as a stop-limit order with a limit round about 9 points away from the stop. But why?

Is the original stop market order from the ATM strategy in place till the instrument is sold, so that under any circumstances the original stop will be hit, it will sold/bought at market level?

Thanks ahead!

[NinjaTrader_Kyle]

Hello BearingHH,

Thank you for your post.

When using an ATM Strategy which places a Stop Limit order to act as a protective stop, the order will have a 20 tick offset to ensure that the stop will fill. This offset cannot be changed for the stop loss order within NinjaTrader 7 - a 20 tick offset would be used in all cases.

Unfortunately, I'm not totally sure that I understand your second question. Am I correct that you are asking how to use a Stop Market order in place of a Stop Limit with your ATM strategy? If that is accurate, NinjaTrader can be configured to place a Stop Market order as a Stop Loss by making the following change:

• Right click in your order entry window and select Properties.
• Set the 'Use Stop Market for Stop Loss' property to True then click OK to apply your change and exit the Properties menu.